National Bank of Canada FI Acquires 341,270 Shares of Amcor plc (NYSE:AMCR)

National Bank of Canada FI boosted its stake in Amcor plc (NYSE:AMCR - Free Report) by 85.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 738,733 shares of the company's stock after acquiring an additional 341,270 shares during the quarter. National Bank of Canada FI owned 0.05% of Amcor worth $8,370,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its stake in shares of Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company's stock worth $27,000 after acquiring an additional 2,319 shares in the last quarter. Rise Advisors LLC bought a new position in Amcor in the third quarter valued at $35,000. ORG Wealth Partners LLC acquired a new stake in Amcor in the 3rd quarter valued at $35,000. True Wealth Design LLC increased its stake in Amcor by 3,794.1% in the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company's stock valued at $38,000 after buying an additional 3,225 shares during the last quarter. Finally, Signaturefd LLC lifted its position in Amcor by 296.3% during the 3rd quarter. Signaturefd LLC now owns 4,336 shares of the company's stock worth $49,000 after buying an additional 3,242 shares in the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Stock Performance

Amcor stock traded down $0.03 during mid-day trading on Thursday, hitting $9.99. 15,015,728 shares of the company's stock traded hands, compared to its average volume of 9,627,149. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. The firm has a 50 day simple moving average of $10.65 and a two-hundred day simple moving average of $10.52. Amcor plc has a fifty-two week low of $8.78 and a fifty-two week high of $11.48. The stock has a market cap of $14.44 billion, a price-to-earnings ratio of 18.89, a P/E/G ratio of 1.83 and a beta of 0.82.

Amcor (NYSE:AMCR - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. Amcor's revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.16 EPS. On average, research analysts expect that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st were paid a dividend of $0.1275 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.11%. This is a positive change from Amcor's previous quarterly dividend of $0.13. Amcor's dividend payout ratio (DPR) is 96.23%.

Wall Street Analyst Weigh In

AMCR has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on Amcor from $10.50 to $10.80 and gave the company an "equal weight" rating in a report on Tuesday, October 15th. Citigroup upped their price objective on Amcor from $10.00 to $11.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. Bank of America raised shares of Amcor from an "underperform" rating to a "buy" rating and set a $12.50 target price for the company in a research note on Wednesday. Macquarie raised shares of Amcor from a "neutral" rating to an "outperform" rating in a research report on Wednesday, November 27th. Finally, Robert W. Baird lifted their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a "neutral" rating in a research report on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $11.20.

Amcor Company Profile

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.